23 May 2023 07:00
23 May 2023
Empresaria Group plc
("Empresaria" or the "Group")
Trading Update
Empresaria, the global specialist staffing group, provides the following update ahead of its Annual General Meeting today at 1:00pm.
The softening of demand and slowing of hiring decisions seen across the Group's businesses in the second half of 2022 have continued into 2023. As a result, net fee income for the four months to 30 April 2023 is 5% lower than the same period in the prior year and half year profits are expected to be down significantly year-on-year against a strong 2022 comparator.
While the Group has implemented a number of measures which will adjust the cost base in the second half of the year, the economic uncertainty makes it challenging to predict the outcome for the full year. At present, full year adjusted profit before tax is expected to be approximately £7m.
We are continuing to deliver on our strategic initiatives and are confident in the medium-term prospects for the Group.
We will provide a full update with the interim results that are expected to be announced on 22 August 2023.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.
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Enquiries:
Empresaria Group plc Rhona Driggs, Chief Executive OfficerTim Anderson, Chief Financial Officer | via Alma PR |
Singer Capital Markets (Nominated Adviser and Broker) Shaun Dobson / James Moat | 020 7496 3000 |
Cenkos Securities plc (Joint Broker) Katy Birkin / Charlie Combe (Corporate Finance)Michael Johnson / Jasper Berry (Sales) | 020 7397 8900 |
Alma PR (Financial PR) Sam Modlin / Pippa Crabtree / Hilary Buchanan | 020 3405 0205empresaria@almapr.co.uk |
Notes for editors:
§ Empresaria Group plc is a global specialist staffing group. We are driven by our purpose to positively impact the lives of people, while delivering exceptional talent to our clients globally. We offer temporary and contract recruitment, permanent recruitment and offshore services across six sectors: Professional, IT, Healthcare, Property, Construction & Engineering, Commercial and Offshore Services.
§ Empresaria is structured in four regions (UK & Europe, APAC, Americas and Offshore Services) and operates from locations across the world including the four largest staffing markets of the US, Japan, UK and Germany along with a strong presence elsewhere in Asia Pacific and Latin America.
§ Empresaria is listed on AIM under ticker EMR. For more information visit empresaria.com.
Empresaria Group (EMR)